Deed of Assignment of Lease

An assignment or transfer of lease is used to transfer the lessee’s interest in the property to a new lessee. This often arises in the context of a sale of business where the vendor seeks to assign the lease to the purchaser.

This precedent comes with commentary which explains the role of the lessee, the new lessee (assignee) and the lessor. It also explains the special provisions which apply under the Retail Leases Act 1994.

An assignor’s Disclosure statement is included for leases that come under the Retail Leases Act 1994, and the commentary explains how to use it and the benefits to be derived from using it. The commentary contains links to relevant legislation.

Deed of Assignment of Lease

This Deed of Assignment of Lease is used to assign a tenant’s interest in a lease to a new tenant (assignee) with the consent of the lessor. It ensures that all parties’ obligations and liabilities are clearly defined and that guarantees, indemnities, and consents are properly executed.

What This Deed Covers

• Consent of the lessor to the lease assignment
• Release of the assignor and assignor’s guarantors from future obligations
• Assignment of all rights, title, and interest in the lease to the assignee
• Assignee’s guarantees for performance of lease obligations
• Continuing liability provisions for guarantors during renewed terms
• Indemnities, warranties, and obligations of all parties
• Lessor’s costs and disbursements payable by the assignor
• Detailed execution and witness clauses for companies and individuals